MNI China Daily Summary: Monday, June 3

MNI BRIEF: Caixin May Manufacturing PMI Hits Over Two-year High

MNI: China CFETS Yuan Index Up 0.03% In Week of May 31

MNI: PBOC Conducts CNY2 Bln Via OMO Mon; Liquidity Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1086 Mon; -1.90% Y/Y

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

Fall In Unit Profits Helps GDP Deflator Moderate In Q1

MNI: US APR CONSTRUCT SPENDING -0.1%

MNI: US ISM MAY MANUF PURCHASING MANAGERS INDEX 48.7

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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-The dollar underperformed through NY,........>

FOREX
FOREX: -The dollar underperformed through NY, weighed by a soft US Empire
Manufacturing release (10.9 vs median 20.0). USDJPY dipped back under Y113.00 to
extended pullback lows of Y112.71 ahead of the Fed policy meeting on Wednesday.
- Despite a downward revision to Eurozone CPI, EURUSD moved back above triangle
base support-turned-resistance. The rate topped out at $1.1358.
- GBPUSD squeezed to $1.2647 but has since drifted back toward the $1.26 handle
and keeps pressure on the downside. PM May announced the Meaningful vote will
take place in the third week of January.
- USDCHF retraced to Chf0.9917 after the European Commission extended
equivalence for the Swiss stock exchange until the end of June. However, it was
later noted this headline was a repeat from last week and USDCHF recovered to
the Chf0.9940/45 area.
- Focus turns to RBA Dec meeting minutes tomorrow (0030GMT). Elsewhere, it's a
busy week for central bank meetings from the Fed, Riksbank, BoE & BoJ.
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